How Will The Restaurants And Mobile Food Services Market Expand Through 2023-2032
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Restaurants And Mobile Food Services Global Market Report 2023, the restaurants and mobile food services market is expected to show significant growth in the forecast period.
Key insights from the restaurants and mobile food services market forecast include:
- Market Size
The global restaurants and mobile food services market grew from $2854.83 billion in 2022 to $3025.55 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The restaurants and mobile food services market is expected to grow to $3790.29 billion in 2027 at a CAGR of 5.8%.
- Major Driver
Globalization is expected to pave the way for more joint ventures, foreign investments, global expansion, and multi-national companies setting up facilities in high-growth regions, thereby allowing restaurant operators to offer their cuisines to customers around the world. For example, McDonald’s is produced in many countries and has franchises around the world. It invests and supports initiatives to adapt its products and services to different locales to ensure its global brand. This rise in globalization is likely to boost investments and consequentially drive the market going forward.
View More On The Restaurants And Mobile Food Services Market Report 2023 – https://www.thebusinessresearchcompany.com/report/restaurants-and-mobile-food-services-global-market-report
- Key Trend
Establishments in the restaurant and mobile food service market rely heavily on recommendations and reviews. Therefore, restaurants are promoting themselves through social media platforms. Mobile applications like GrubHub and JustEat allow customers to review, browse the menu and nutrition information, order and make reservations. Social media is enhancing customer loyalty and public reputation as customers share photos and reviews, thereby increasing awareness of restaurants. For example, restaurants are adopting live streaming restaurant videos to engage their online followers and interact with them. Social media is expected to be a significant driver of the restaurant and mobile food services industry.
- Major Players
Major companies in the restaurants and mobile food services market include Darden Restaurants, Yum China Holdings Inc., McDonald’s, Chipotle, Berkshire Hathaway Inc., Subway; Zensho Holdings Co Ltd., Chick-fil-A, Brinker International, Bloomin’ Brands.
- Top Market Segments
The global restaurants and mobile food services market is segmented –
1) By Type: Full-Service Restaurants, Limited-Service Restaurants, Cafeterias, Grill Buffets, And Buffets, Mobile Food Services
2) By Ownership: Chain Market, Standalone Market
3) By Pricing: High-End, Economy
4) By Service Type: Online Booking, Offline Booking
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The Restaurants And Mobile Food Services Global Market Report 2023 provides an in-depth analysis on the restaurants and mobile food services market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the restaurants and mobile food services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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